Introduction

Sending money abroad from the UK is now faster, easier, and more affordable than ever. Whether you’re transferring money to family, paying for overseas services, supporting students, or managing international business payments, choosing the right provider can save you £10–£50 per transfer. Cheapest way to send money abroad

In 2026, hundreds of money transfer companies operate in the UK, each offering different fees, exchange rates, and transfer speeds. This complete guide explains the best and cheapest ways to send money abroad, how fees work, and the most reliable services for different countries.

1. What Defines the “Cheapest” Money Transfer Method?

When sending money internationally, the total cost is made up of:

1. Transfer Fee

Fixed fee
Percentage fee
Sometimes £0 promotional fees

2. Exchange Rate Margin

The difference between:

Real mid-market rate
Provider’s selling rate

This is where most companies make money.

3. Transfer Speed

Faster transfers usually cost more:

Instant transfers → higher fees
Bank transfers → cheaper

4. Payment Method

Bank transfer → cheapest
Debit card → moderate
Credit card → expensive (cash advance fees)

5. Receiving Method

Cheapest methods:

Bank account deposit
Wallet transfer

Costlier methods:

Cash pickup
Doorstep delivery

2. Cheapest Ways to Send Money Abroad from the UK (2026)

Here are the top cheapest and most reliable methods in 2026:

1️⃣ Wise (Cheapest Method in 2026)

Best for: Bank-to-bank international transfers
Countries covered: 160+
Speed: Same day – 48 hours
Fees: Low, transparent
Exchange rates: Real mid-market rate

✔ Why Wise Is the Cheapest:

Transparent fees
Lowest exchange margins (0.5–1%)
No hidden charges
Works with all major UK banks
Supports large transfers

💷 Typical Cost Example:

Sending £500 to any country costs only £3–£5 total.

2️⃣ Revolut (Great for Small Transfers)

Best for: Small, frequent transfers
Fees: Often £0 for premium members
Exchange rate: Excellent on weekdays
Speed: Fast, often instant

✔ Perfect for:

Sending money within Europe
Low-value personal transfers
Frequent users

3️⃣ Remitly (Best for Fast Transfers & UPI Payments)

Best for: Pakistan, India, Bangladesh, Philippines, Africa
Speed: Instant (Express)
Fees: £0–£3
Exchange rates: Very competitive

✔ Best for Instant Transfers:

India (via UPI)
Pakistan (bank transfer in minutes)

4️⃣ WorldRemit (Best for Wallets & Cash Pickup)

Best for:

Africa
Asia
Latin America

✔ Advantages:

4,000+ cash pickup locations
Supports MTN, Airtel, JazzCash, Paytm wallets
Fast processing (minutes)

5️⃣ Western Union (Best for Cash Pickup Worldwide)

Popular because:

Cash pickup in minutes
500,000+ global locations
Good for large transfers

✔ Not the cheapest:

Western Union uses a higher exchange margin (2–3%).

6️⃣ Ria Money Transfer

Best for:

Cash pickup
South Asia

✔ Often cheaper than Western Union:

Better rates
Lower fees

7️⃣ Traditional UK Banks (Most Expensive Option)

Examples:

Lloyds
HSBC
Barclays
NatWest

❌ Why banks are expensive:

£10–£30 transfer fee
Weak exchange rate
Slow (3–5 days)

Use banks only for:

Very large transfers
Business purposes
Trusted personal preference

3. Cheapest Method by Destination (2026)

🇮🇳 India

Cheapest: Wise
Fastest: Remitly Express (UPI)

🇵🇰 Pakistan

Cheapest: Wise
Fastest: WorldRemit / Remitly Express

🇧🇩 Bangladesh

Cheapest: Wise
Fastest: WorldRemit

🇵🇭 Philippines

Cheapest: Wise
Best for cash: Western Union

🇳🇬 Nigeria

Cheapest: Wise
Best for wallets: WorldRemit

🇪🇺 Europe

Cheapest: Revolut / Wise
Fastest: Instant SEPA transfers

🇺🇸 USA

Cheapest: Wise
Fastest: Remitly Express

🇦🇪 UAE

Cheapest: Wise
Fastest: Western Union

4. Comparison Table – Cheapest Transfer Providers (2026)

Provider	Fee	Exchange Margin	Speed	Best For
Wise	£1–£5	0.5–1%	Same day	Bank transfers
Revolut	£0–£3	0–1.5%	Instant	Small transfers
Remitly	£0–£3	1–2%	Instant	Fast transfers
WorldRemit	£2–£3	1.5–2%	Minutes	Wallet/cash pickup
Western Union	£0–£5	2–3%	Minutes	Cash pickup
Ria	£1–£3	2–3%	Same day	South Asia transfers

5. Pros & Cons of Each Transfer Option

Wise

✔ Cheapest overall
✔ Best rates
✔ Transparent fees
✖ Not the fastest for instant cash

Revolut

✔ £0 fees on premium
✔ Great for Europe
✖ Not ideal for high-value transfers

Remitly

✔ Fastest to South Asia
✔ Great welcome bonuses
✖ Higher exchange margin than Wise

WorldRemit

✔ Best for wallets
✔ Instant payments
✖ Slightly higher fees

Western Union

✔ Instant cash pickup
✖ Higher exchange rate margin

Ria

✔ Competitive pricing
✖ Not available in all countries

6. Tips to Save Money When Sending Abroad in 2026

✔ Compare exchange rates

Use Google or XE.com before sending.

✔ Avoid UK banks

They are the most expensive.

✔ Avoid credit card transfers

High fees + cash advance interest.

✔ Watch for promotions

Remitly and WorldRemit often offer:

£0 fee
Higher first-rate

✔ Send larger amounts less often

Flat fees make larger transfers more efficient.

7. Internal SEO Links (Add when posts are published)

Cost to Send Money to Pakistan 2026
Money Transfer Fees to India 2026
UK Visit Visa Fees 2026
eSIM Travel Costs 2026

These create strong topical relevance for your site.

8. External Trusted References

◼ FCA – Money Transfer Regulations
https://www.fca.org.uk/consumers/money-transfer

◼ GOV.UK – Sending Money Abroad
https://www.gov.uk/money-transfer-overseas

◼ XE Currency Converter
https://www.xe.com/

◼ World Bank Remittance Data
https://www.worldbank.org/en/topic/migrationremittancesdiaspora

Conclusion

Sending money abroad from the UK in 2026 is easier and cheaper than ever thanks to competitive online money transfer services. Wise is the cheapest option for most transfers, while Remitly, WorldRemit, and Western Union offer fast and convenient alternatives depending on your destination and preferred method of receiving money.

Always compare fees and exchange rates before sending money, as choosing the right provider can save you significant amounts — especially if you regularly send international payments.

Send Money to Pakistan